MHMarkets:11.03-MHMEuropean Market
Market Overview
In the morning of Asian market on Thursday (November 3), Beijing time, spot gold fluctuated in a narrow range. At present, it is trading near 1637.10 US dollars/ounce. The US dollar index fell slightly on Thursday, prompting some gold bears to take profits and providing some support for gold prices. However, the hawkish speech of Federal Reserve Chairman Powell overnight continued to suppress bulls' morale.
This trading day will be marked by the changes in the number of US initial jobless claims and the US October ISM manufacturing PMI data. Investors need to focus on this. The former is expected to further reflect the relative strength of the labor market, which is bearish for gold; The future market may be weaker than the performance in September, but it is still far higher than the 50% of the boom and bust line, which is relatively neutral. If it is unexpectedly stronger than expected, it will also depress the gold price trend.
In addition, investors also need to pay attention to the Bank of England's interest rate resolution. The market generally expects the Bank of England to raise interest rates by 75 basis points. The medium and long term trend is negative for gold prices, because the opportunity cost of holding gold increases. In the short term, we need to pay attention to the impact of the hawk and dove tendency of the Bank of England on the dollar.
Mohicans Markets strategy is only for reference and not for investment advice. Please carefully read the statement at the end of the text. The following strategy will be updated at 15:00 on November 3, 2022 Beijing time.
Technical Analysis
Change of CME Group's option layout (futures price in December):
1675 Bullish sharp increased, bearish slight increased, and the bull was the second target
1650 Bullish has increased significantly, bearish increased slightly. Bullish rebound target is also an important resistance
1645 Bullish increased, bearish slightly increased, resistance level
1630 Bullish slightly decreased, bearish slightly increased, support level
1620 Bullish unchanged, bearish sharply increased, short’s first target and support
1600 Bullish unchanged, bearish sharply reduced, and bears were the second target
Order flow key point marking (spot price):
1655 Trend key resistance, breaking through will destroy the momentum of bears
1646-1650 Key resistance during the day
1642 First resistance in short line
1632 First support, key point
1622 Important support near the front low
1600-1610 Short Target
Note: The above strategy was updated at 15:00 on November 3. This policy is a daytime policy. Please pay attention to the policy release time.
Change of CME Group's option layout (futures price in December):
19.75 Bullish increased, bearish increased, long rebound and first target and resistance
19.55-19.6 Bullish and bearish increased significantly, key resistance level
19.25 Bullish slightly increased, bearish significantly increased, short-term key position
18.9-19 Bullish decline, bearish slightly increase, key support
18.75 Bullish unchanged, bearish slightly increased, supporting level
18.50 Bullish unchanged, bearish increased, first target of bear
18 Bullish declined, bearish slightly increased, key support
Order flow key point marking (spot price):
20 Important resistance
19.75 Second resistance
19.42-19.5 Short line resistance
19.14 Support
18.9-19 Key support
18.6 Short line support
18-18.3 Important support area
Note: The above strategy was updated at 15:00 on November 3. This policy is a daytime policy. Please pay attention to the policy release time.
Order flow key point marking (December Futures Price)：
95 Bullish increased and large inventory, bearish increased slightly, long target and resistance
92 Bullish increased sharply, bearish unchanged, long target
90 Bullish decreased sharply but large inventory, bearish increased sharply and large inventory, resistance
88 Bullish decreased sharply, bearish increased, support weakened
85 Bullish decreased and large inventory, bearish increased, short target
Order flow key point marking：
92.5-93.5 Strong resistance area
89.8-90 Second resistance, key resistance area
88.6 Short-term support
87.5-87.8 Key support area during the day
86.7 Support
85.3 Upside key support
Note: The above strategy was updated at 15:00 on November 3. The strategy is a daytime strategy, please note the strategy release time.
CME Group options layout changes：
0.995-0.9975 Bullish decreased but large inventory, bearish unchanged, long target and resistance
0.99 Bullish decreased, bearish decreased but large inventory, next resistance
0.985 Bullish slightly decreased, bearish slightly increased, first resistance
0.98 Bullish unchanged, bearish increased sharply and large inventory, fallback target
0.975 Bullish unchanged, bearish increased and large inventory, short target
0.97 Bullish unchanged, bearish decreased, support level
Note: The above strategy was updated at 15:00 on November 3. The strategy is a daytime strategy, please note the strategy release time.
CME Group options layout changes：
1.155 Bullish unchanged but large inventory, bearish unchanged, next long target
1.15 Bullish increased, bearish slightly decreased, long target
1.145 Bullish slightly decreased, bearish sharply increased, first resistance
1.14 Bullish slightly decreased, bearish increased, fallback target
1.135 Bullish unchanged but large inventory, bearish increase, fallback target and support
1.13-1.132 Bullish increased, bearish slightly increased, short target and support
1.125 Bullish unchanged, bearish decreased, important support
Note: The above strategy was updated at 15:00 on November 3. The strategy is a daytime strategy, please note the strategy release time.
Statement|Disclaimer
Disclaimer: The information contained in this material is for general advice only. It does not take into account your investment goals, financial situation or special needs. We have made every effort to ensure the accuracy of the information as of the date of publication. MHMarkets makes no warranties or representations about this material. The examples in this material are for illustration only. To the extent permitted by law, MHMarkets and its employees shall not be liable for any loss or damage arising in any way, including negligence, from any information provided or omitted from this material. The features of MHMarkets products, including applicable fees and charges, are outlined in the product disclosure statements available on the MHMarkets website. Derivatives can be risky and losses can exceed your initial payment. MHMarkets recommends that you seek independent advice.
Mohicans Markets, (Abbreviation: MHMarkets or MHM, Chinese name: Maihui), Australian Financial Services License No. 001296777.
